James Hardie Industries (NYSE:JHX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of James Hardie Industries (NYSE:JHX) from a buy rating to a hold rating in a research report released on Wednesday.

A number of other research firms also recently weighed in on JHX. Truist Financial began coverage on James Hardie Industries in a research report on Tuesday, December 10th. They set a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. raised James Hardie Industries from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, James Hardie Industries presently has an average rating of “Hold” and a consensus price target of $40.25.

James Hardie Industries Stock Up 1.0 %

JHX opened at $31.87 on Wednesday. James Hardie Industries has a twelve month low of $29.88 and a twelve month high of $43.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 2.02. The business has a 50 day moving average price of $34.19 and a 200 day moving average price of $34.59. The firm has a market cap of $13.70 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 4.35 and a beta of 1.77.

James Hardie Industries (NYSE:JHX) last issued its quarterly earnings data on Tuesday, November 12th. The construction company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. James Hardie Industries had a net margin of 11.16% and a return on equity of 35.93%. The business had revenue of $960.80 million during the quarter, compared to analysts’ expectations of $973.49 million. During the same period in the previous year, the company earned $0.41 earnings per share. James Hardie Industries’s revenue for the quarter was down 3.8% on a year-over-year basis. Research analysts forecast that James Hardie Industries will post 1.47 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. M&T Bank Corp acquired a new stake in shares of James Hardie Industries in the 3rd quarter valued at $293,000. Cerity Partners LLC increased its position in shares of James Hardie Industries by 58.8% during the 3rd quarter. Cerity Partners LLC now owns 37,771 shares of the construction company’s stock worth $1,517,000 after purchasing an additional 13,981 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in James Hardie Industries during the 3rd quarter valued at about $2,369,000. FMR LLC boosted its position in James Hardie Industries by 22.5% in the third quarter. FMR LLC now owns 160,273 shares of the construction company’s stock valued at $6,435,000 after buying an additional 29,401 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in James Hardie Industries by 317.2% during the third quarter. Natixis Advisors LLC now owns 172,460 shares of the construction company’s stock worth $6,924,000 after buying an additional 131,120 shares during the last quarter. 7.96% of the stock is currently owned by institutional investors and hedge funds.

About James Hardie Industries

James Hardie Industries plc manufactures and sells fiber cement, fiber gypsum, and cement bonded building products for interior and exterior building construction applications primarily in the United States, Australia, Europe, New Zealand, and the Philippines. The company operates through North America Fiber Cement, Asia Pacific Fiber Cement, and Europe Building Products segments.